Treasury Yields Rise To Highest Level Since Nov. 21

The Treasury market sold off on Tuesday morning, pushing the yield on the benchmark 10-year Treasury up 5.9 basis points to 2.331%, the highest point since Nov. 21. The intense selling in the Treasury market was fueled by a similar meltdown in the eurozone's government bond market which has been going on for more than two weeks and continued on Tuesday. The yield on the 10-year benchmark German bond known as the bund increased 12.3 basis points to 0.713% on Tuesday and European peripherals, such as Spain, Italy and Portugal, also saw their yields jump between 10 and 13 basis points.